Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

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This week's top 10 sales crown was tightly contested between Sydney and Melbourne, but a $4,906,000 Paddington contemporary abode just pipped a partially renovated Brighton mortgagee sale.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The new contemporary Goodhope Street dwelling initially went to market in October 2011 seeking $5.8 million plus. It was called on the market at $4.83 million with competition from phone bidders from start to finish. It was knocked down to a buyer being represented by the buyers’ agent Chris Koren.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Julian Hasemer from 1st City Hasemer + Caldwell.Eyles handled the sale in conjunction with McGrath agent Ben Collier. The 257-square-metre holding last traded at $3 million in 2009, with the warehouse replaced with a home designed over three levels behind the bold eight-metre facade. It came with a two-car garage, a courtyard light well, a huge living space that opens to a walled terrace with a rectangular pool and waterfall feature, and four bedrooms and bathrooms all luxurious in their finishes and size.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The five-bedroom Brighton house that fetched $4.9 million had a reported $4 million land value. David Hart, the Buxton Brighton selling agent, says it requires just a few finishing touches to take its place as one of Brighton's most sumptuous homes. Set on a prized Golden Mile court the St Nonians Court house came with five bedrooms.

 
1. 65 GOODHOPE STREET, PADDINGTON, NSW, 2021, four-bedroom house, sold at auction on March 24 by McGrath Estate Agents for $4,906,000
<img src="/images/stories/nintijan.jpg">
2. 8 ST NINIANS COURT, BRIGHTON, VIC, 3186, five-bedroom house (pictured above), sold at auction on March 24 by Buxton Brighton for $4.9 million
3. 8 BULKARA STREET, WAGSTAFFE, NSW, 2257, five-bedroom house, sold on March 23 by Belle Property Terrigal for $3.6
4. 18 ARTHUR STREET, BELLEVUE HILL, NSW, 2023, five-bedroom house, sold on March 21 by Richardson &amp; Wrench Double Bay for $3.4 million
5. 30 VISTA STREET, GREENWICH, NSW, 2065, four-bedroom house, sold before auction at March 24 by McGrath Estate Agents for $3 million
6. 4 WINBURN AVENUE, KINGSFORD, NSW, 2032, five-bedroom house, sold at auction on March 24 by N G Farah Real Estate for $2.83 million
7. 23 WINMALEE ROAD, BALWYN, VIC, 3103, five-bedroom house, sold on March 23 by Noel Jones Balwyn for $2.8 million
8. 9 FAIRBAIRN ROAD, TOORAK, VIC, 3142, three-bedroom house, sold at auction on March 24 by Kay &amp; Burton South Yarra for $2,505,000
9. 413 BRONTE ROAD, BRONTE, NSW, 2024, three-bedroom house, sold at auction on March 24 by Goodyer Donnelley Real Estate for $2,395,000
10. 3 SOUTH AVENUE, DOUBLE BAY, NSW, 2028, three-bedroom house, sold at auction on March 20 by Bradfield Cleary Real Estate for $2.3 million
 
Last week's list top 10 sales were:
 
1. 68 LORD STREET, ROSEVILLE, NSW, 2069, five-bedroom house, sold at auction on March 17 by Belle Property Killara for $3.25 million
2. 38 REDNAL STREET, MONA VALE, NSW, 2103, five-bedroom house, sold after auction on March 17 by RE/MAX Property Specialists for $2.9 million
3. 200 WHALE BEACH ROAD, WHALE BEACH, NSW, 2107, four-bedroom house, sold at auction on March 17 by McGrath Estate Agents for $2.8 million
4. 146A WOOLOOWARE ROAD, CRONULLA, NSW, 2230, five-bedroom house sold on March 16 by Sean Egan Property Burraneer for $2.7 million
5. 45 NEWTON ROAD, STRATHFIELD, NSW, 2135, four-bedroom house, sold at auction on March 17 by Devine Real Estate for $2.4 million
6. 13 BRANDON STREET, CLOVELLY, NSW, 2031, four-bedroom house, sold at auction on March 17 by Belle Property Bondi Junction for $2,205,000
7. 8 TUNKS STREET, WAVERTON, NSW, 2060, four-bedroom house, sold at auction on March 17 by McGrath Estate Agents for $2,107,500
8. 1/142 BRIGHTON BOULEVARD, NORTH BONDI, NSW, 2026, four-bedroom unit, sold on March 13 by Raine &amp; Horne Bondi Beach for $2.1 million
9. 29 ORRONG ROAD, ELSTERNWICK, VIC, 3185, four-bedroom house, sold at auction on March 17 by Biggin &amp; Scott Elsternwick for $2.1 million
10. 25 CAMPBELL STREET, ABBOTSFORD, NSW, 2046, five-bedroom house, sold at auction on March 17 by Ray White Five Dock for $2 million
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Paddington pips Brighton for most expensive sale of the week: RP Data

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The Telstra store premises on the corner of Collins and Swanston streets – one of the busiest pedestrian corners in the Melbourne CBD – has sold ahead of auction for $9.25 million.
The buyer is a private Victorian investor who has paid the equivalent of $142,308 per square metre for the 65-square-metre shop.
<img style="border-style: initial; border-color: initial;" src="/images/stories/220collins.jpg">
It is tenanted by Telstra, which took over the lease from Vodafone last year and has a seven-year lease. The shopfront has not been vacant in the last 40 years.
The shopfront generates net income of about $544,000 per annum with 5% fixed annual rental increases equating to a yield of 5.8%
CBRE’s Josh Rutman, who negotiated the sale along with colleagues Mark Wizel and Max Cookes, said the vendor – ASX-listed property fund manager Charter Hall – had received a number of “good offers” before the scheduled on-site auction. 
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/220collins2.jpg">“There was an auction before the auction,” Rutman told Property Observer.
 
The property had been listed for sale with around $9 million hopes.
The shop at 220 Collins Street is situated on the ground floor of the 1932 Art Deco Manchester Unity building, whose completion was said to signal to Melburnians the end of the Great Depression.
It was subsequently subdivided and sold down as individual units in 1996.
It stands on a prime piece of Melbourne CBD real estate opposite the Town Hall, with about 15 million pedestrians filing past every ear – 50,000 each day.
Charter Hall had held the shop premises since 1997 in one of its small unlisted retail funds.
Telstra took over from Vodafone as its tenant last year. The shopfront has not been vacant in the last 40 years.
The Manchester Unity building was the tallest building in Melbourne when it was finished in 1932.
The corner tower is built in the commercial Gothic Modern style inspired by Raymond Hood’s competition-winning Chicago Tribune Tower.
Photographs by Alistair Walsh
 
 
 
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lschlesinger-FZcF9M3vE6

Private investor snaps up Collins Street Telstra store premises for $9.25 million ahead of auction

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As soon as you make the decision to sell your home, you need to look at your asset in a different way. No longer just the place where you and your family live, your home is now a product that you need to market and present to your potential buyers. Showcasing your home is all about highlighting the possibilities. The more people who see your home as desirable, the higher the price you’re likely to sell it for. Here are 10 tips to help you put yourself in the shoes of your buyers and ensure you get the best possible price for your home.
1. Understand your buyers
Different kinds of properties suit different kinds of buyers. What a young professional couple is looking for is unlikely to be the same as that which appeals to a growing family. Empty-nesters have different needs again. If you can second-guess the kind of people who may be attracted to your property you can:
<ul>
<li>Craft your marketing accordingly</li>
<li>Better understand how you can go about preparing your home for sale</li>
<li>Decide which real estate agent to choose to handle the sale.</li>
</ul>
A good real estate agent can give you insight into likely buyers based on his or her experience of the local market.
Talk to friends to get their ideas about who they think may be interested in your property, and what they might be looking for.
2. Remove personal clutter
Your first step in preparing your home for sale is to pare down your furniture and belongings. Remove any ornaments that are too personal or idiosyncratic. You may be able to see the irony in the kitsch fridge magnet your Aunt Jenny brought back from Surfer’s Paradise, but your buyers may not. As a general rule, take down family photos and children’s drawings — although you can leave a couple of the more artistic ones, especially interesting older photos.
Another benefit of carrying out this step of culling and de-cluttering early on is that it means you can more easily see what needs to be done in terms of cleaning and any repairs.
Home buyers are looking for a place they can imagine themselves being happy and proud of. So, when you come to sell your home, your job is to ensure that nothing gets in the way of your home “communicating” with potential buyers. Leave room for buyers to visualise themselves in your home.
Start by clearing your property of anything that isn’t absolutely essential to the functioning or the aesthetic attraction of a room. Clean out and tidy storage cupboards. Cull pictures, knick- knacks and junk.
Ask a friend with a discerning eye to help you be ruthless about de-cluttering your home for sale.
3. Add value with cosmetic changes
Space, freshness and light are probably the most sought-after aspects of a property (apart from storage, more on that in a minute). Many properties that have a lot to offer in this regard are overlooked by buyers because sellers have failed to carry out simple and often inexpensive improvements.
<ul>
<li>A coat of paint can freshen up both the interior and exterior of a home — and is likely to add probably twice its cost to the value of the home. Stick to neutral colours, and ensure the paint job looks professional.</li>
<li>Lift worn carpets or lino to reveal floorboards that you can polish to create a clean, modern feel. If you don’t have floorboards, replace with medium-quality floor coverings or look into installing a floating timber floor.</li>
<li>Replace tired cabinet doors and door handles in the kitchen and bathroom for an inexpensive and worthwhile lift. Re-grouting bathroom and kitchen tiles can make old tiles look new again.</li>
<li>Install a window or a skylight to brighten up a gloomy room. A window with a pleasant view over a garden or some other aspect gives a double benefit of light and space.</li>
<li>Create an outdoor entertaining area by paving a section of the backyard close to the house, and buying an inexpensive outdoor furniture set. You can do the same with an apartment balcony by adding some cheerful tubs of greenery and a barbecue.</li>
<li>Leave larger-scale structural improvements to the new owners. You’re unlikely to get the money back you spend on upgrading the infrastructure such as re-wiring or re-blocking (replacing the foundations of your property). </li>
</ul>
4. Build more storage
One of the biggest complaints of home owners is lack of storage. Having a spacious open-plan living area or three bathrooms can be cancelled out if there is nowhere to store sheets, the vacuum cleaner or family memorabilia. Wardrobes are also often all too scarce — especially in older homes where people relied in the past on a big, old, freestanding wardrobe.
Here’s how to make more space for storage:
<ul>
<li>
Rooms: Ensure each room in your property has some form of cupboard, cabinet or shelving. Even if the storage isn’t built in, you can show the room’s potential for fitting in a wardrobe or bookshelf.</li>
<li>
Linen cupboard: Everyone needs somewhere to store their sheets and towels. Perhaps you can sacrifice a section of a hallway, laundry or bathroom to install a freestanding cupboard or build one in. Make sure, though, that it’s made of material that can handle moisture and humidity. Bamboo, glass and chrome are good options.</li>
<li>
Roof space: If you’ve got a bit of space in your roof, it may be worthwhile converting it into an attic. As long as it’s properly lined and easily accessible with a fold-down ladder, this may more than pay for its value by appealing to buyers who can dream about storing their family heirlooms, winter bedding and camping equipment.</li>
<li>
Shed: If you don’t have a garage, buy a garden shed big enough to fit a few tools and a bike or lawnmower.</li>
</ul>
5. Find an enthusiastic real estate agent 
If you don’t handle the sale of your property yourself, you need to rely on a real estate agent to bring in buyers and get them interested in your home. Make sure the agent you choose understands your property’s good points and has the skills and commitment to market them with enthusiasm.
Think about whether an agent is the type of person who can communicate well to the kinds of people you’ve determined are likely to be interested in your home:
<ul>
<li>Does she dress appropriately?</li>
<li>Can she talk authoritatively without being intimidating?</li>
<li>Is she the kind of person who is likely to win the trust of your potential buyers and encourage them to make a good offer?</li>
</ul>
6. Target your marketing
Real estate agents often encourage you to spend thousands of dollars on advertising and marketing that may not even be appropriate for your property. Big glossy advertisements don’t necessarily result in bigger prices. More important may be listing your property on a major real estate website, along with a well- designed and worded signboard outside your property that attracts and informs drive-by home-seekers.
You can reach local buyers by dropping brochures in letterboxes and by placing advertisements in the local newspaper. If your property is likely to appeal to buyers from other areas, advertise in publications with a metro-wide circulation (including an agent’s own in-house magazine).
Skilful use of photographs and descriptive text can highlight your property’s best points, particularly those not obvious from the street. Sing the praises of your location as well as of the property itself.
7. Price your home properly
List your home at a price that is likely to target the right buyers. Too high and you’re narrowing your potential buyer pool, too low and you’re only going to get the opportunistic bargain hunters.
Don’t rely on real estate agents to give you a realistic price expectation. They invariably over-quote to get your property on their books. When you don’t get offers at that price they’re likely to blame the market rather than their unrealistic price expectations.
Get an independent property valuer to give you a valuation based on her knowledge of the local property market and her appraisal of your individual property. Between this figure and the agent’s over-optimistic price expectation, you can get a better idea of how to price your property.
8. Dress to impress on inspection days
The repainting, polishing, cleaning and de-cluttering are all done. On inspection day, make sure your home is fresh and welcoming. Sweep the front step, polish the doorknocker, fill the entrance with light and put fresh flowers in strategic spots around the property.
Get rid of the kids and the pets — and all evidence of them, including toys, animal hair and smells. Clear the sink and kitchen bench, and put fresh towels in the bathrooms. Burn vanilla or peppermint essential oils no less than an hour beforehand. Have soft tasteful music playing in the background, and make yourself scarce.
9. Be prepared to negotiate
When you get an offer from a buyer that may be much lower than you would like, reply courteously, letting the buyer know that you’ve done your homework and that you’re expecting a price a little closer to your listing price. Be prepared to drop around five per cent from your hoped-for price — but take guidance from your real estate agent about the demand from buyers thus far.
In an auction sale, if the property is passed in at a price lower than you like, have some negotiating points ready to offer the under-bidder. Can they offer you a better price if you volunteer a longer settlement period, for example, or if you leave the collection of large, potted palms behind?
10. Ensure a smooth transaction from contract to settlement
A contract isn’t binding until each of you has a copy signed by both of you. If you’re selling via private treaty sale:
<ul>
<li>Make sure your agent can contact you immediately when she receives a good offer.</li>
<li>Have your solicitor/conveyancer on call to be able to get moving on the conveyancing, to ensure the process goes as smoothly as possible.</li>
</ul>
For settlement day, make sure you:
<ul>
<li>Vacate the property (unless the sale goes through with tenants in place).</li>
<li>Leave it in the same condition it was in when your buyer signed the contract — otherwise the buyer has the legal right to delay or pull out of the settlement.</li>
<li>Organise the disconnection of all utilities.</li>
<li>Hand over the keys to the new owners.</li>
</ul>
 
<img src="/images/stories/sellingdummies.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;" width="100">
Karin Derkley is a the former deputy editor of Personal Investor magazine, and continues to write for The Age and AFR Smart Investor. She has also lived through the pleasures and pitfalls of purchasing and renovating her own home. She is the author of Selling Your Home for Dummies, published by <a target="_blank" href="https://au.wiley.com/WileyCDA/">Wiley</a>. The <a target="_blank" href="https://www.dummies.com/Section/index">Dummies brand</a> is celebrating its 21st anniversary in Australia in March. This is an excerpt from Selling Your Home for Dummies.
 
 
 
<ul></ul>
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kerkley-uF6NdMiThS

Ten tips for selling your house easily and for the best price: Karin Derkley

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<img src="/images/stories/2point6percent.gif">
The percentage of Melbourne suburbs with a median house price of under $300,000, according to RP Data. This is the second-lowest percentage in Australia; Canberra doesn't have a single suburb with a median house price under $300,000.
 
<hr>
<img src="/images/stories/3point8per.gif">
 
The percentage of Perth suburbs with a median house price of under $300,000, according to RP Data.
 
<hr>
<img src="/images/stories/4point2percent.gif">
The percentage of Sydney suburbs with a median house price of under $300,000, according to RP Data.
 
<hr>
 
<img src="/images/stories/5point4percent.gif">
 
The percentage of Darwin suburbs with a median house price of under $300,000, according to RP Data.
 
<hr>
<img src="/images/stories/11percemt.gif">
The percentage of Adelaide suburbs with a median house price of under $300,000, according to RP Data.
 
<hr>
 
<img src="/images/stories/13point1percent.gif">
The percentage of Brisbane suburbs with a median house price of under $300,000, according to RP Data.
 
<hr>
<img src="/images/stories/41percent.gif">
The percentage of Hobart suburbs with a median house price of under $300,000, according to RP Data.
 
<hr>
 
<img src="/images/stories/7point1percent.gif">
The percentage of all capital suburbs with a median house price of under $300,000, according to RP Data.
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cknowlton-QnEa6ntUYP

The number of suburbs in each capital city with median house prices under $300,000: RP Data

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Aussie Home Loans founder John Symond has warned that borrowers will burst like tomatoes unless the RBA cuts rates.
“People are like tomatoes that have been squeezed too much. At some stage they'll burst. They've had a gutful,” Symond said on Ross Greenwood’s Money News show on 2GB.
Speaking also to David Koch on Sunrise, Symond joined the likes of Yellow Brick Road’s Mark Bouris by heaping more pressure on the Reserve Bank to cut interest rates and inject some confidence into the housing market and economy in general.
“The government and they RBA are a bit out of touch by not accepting that parts of the economy, especially small businesses, is doing it really tough at the moment,” Symond said.
“As well as the Australian economy has performed relative to other economies, we could easily get into the situation where the economy could stall,” warned Symond.
“We need an injection of good news and an injection of confidence – the best way to do that is to start dropping interest rates.”
Symond said the basic principles of supply and demand suggested the housing market was unlikely to recover anytime soon, pointing out that there were currently more than 300,000 houses listed for sale on the market, the highest in Australia’s history.
“We have an oversupply of sellers versus buyers, which suggests the housing market will remain soft,” he said.
Furthermore, he also expressed concern at the increase in self-employed borrowers facing mortgage difficulties as noted in the increase in low-doc loan arrears (loans principally used by those self-employed) in the recent Fitch Dinkum Index for the December 2011 quarter.
According to Fitch, the percentage of low-doc borrowers more than 30 days in arrears increased to 6.62% in the December quarter, up from the 6.26% rate in the September quarter.
“Mortgage arrears are a worry because they are trending in the wrong direction,” said Symond.
“Houses are taking twice as long to sell, and if you’re in trouble it’s going to take you twice as long to sell your property – if you can in fact sell it.”
Symond’s criticism of the RBA follows an attack in early March from Mark Bouris over the central bank’s decision to leave rates on hold in February (following which the major banks lifted their standard variable mortgage rates).
In a series of tweets Bouris said the central bank needed to take into account that Australia had a multi-speed economy when determining interest rate settings.
“What's the basis of the RBA decision? They keep rates on hold because everything looks OK but you just need to scratch beneath the surface,” tweeted Bouris.
 
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John Symond urges 'out of touch' RBA to cut rates or borrowers will burst like tomatoes

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In contrast to the sometimes hysterical media coverage yesterday of a minor Fitch report claiming that Australian home loan delinquencies had risen over the second half of 2011, the RBA’s Financial Stability Review released today corrects this error and finds quite the opposite. 
The difference between the two reports is explained by what they cover. The RBA’s analysis includes all home loans on bank balance-sheets plus “securitised” loans: more than $1.2 trillion worth in total. In contrast, Fitch’s research only covers securitised loans, which amount to less than $100 billion. To be clear, these loans are included in the RBA’s sample, but represent less than 10% of the total. 
The RBA concludes that total home loan arrears in Australia declined – not increased (as Fitch argued) – in the second-half of 2011. Specifically, the RBA comments: 
“The arrears rate for housing loans (on banks’ domestic books plus securitised housing loans) declined to 0.6% in December, from 0.7% in mid-2011. The non-performing rate for credit cards has also improved, falling from 1.4% in June 2011 to 1.2% in December, while the rate for other personal loans has been broadly unchanged since mid-2011 at around 2%.”
 
The RBA’s chart below shows that while home loan arrears have risen steadily since their nadir in 2003, they remain no higher than they were in the mid-1990s. The drop-off in delinquencies in the latter half of 2011 is clearly visible at the end of the time-series.
<img src="/images/stories/rbamarch281.gif">
The improved debt-servicing performance of Australian borrowers was also reflected in a trend decline in applications for repossessions of homes across most Australian states. The RBA has been building up its analysis of foreclosures, and the latest Financial Stability Review presents the best parsing yet. The second chart below illustrates trend changes in foreclosures for New South Wales, Victoria, Western Australia, and south-east Queensland through to early 2012. In this context, the RBA observes: 
“Possession rates have generally either stabilised or improved in most other states. Bankruptcy rates have [also] broadly fallen across states since 2009, although less so in Queensland and Western Australia. Overall, though, the number of households whose financial difficulties have deteriorated to the extremes of bankruptcy or lender property possession is very low in absolute terms.”
<img src="/images/stories/rbamarch282.gif">
Another unique RBA data-set released today is the share Australian borrowers who are repaying their home loans more quickly than what is actually required by their lenders (under their “amortisation schedules”). The RBA’s research reveals that these so-called “excess repayments” increased significantly over the course of 2011, which in turn implies that household stress was on the decline (refer to the third chart below): 
“Many borrowers are repaying substantially more than required: data from lenders suggest that the rate at which borrowers were making excess repayments on their mortgages increased over 2011. Total excess repayments were roughly the same as required repayments in the December quarter 2011, up from about 80%in the March quarter.”
<img src="/images/stories/rbamarch283.gif">
Finally, the RBA confirms my recent arguments about advances in home owner affordability, noting, “At the national level, the ratio of dwelling prices to income has fallen over the past year, and is below the average of the past decade, while rental yields have begun to pick up, assisted by stronger rental growth as well as lower prices.” 
It will be fascinating to see how much media prominence is given to the RBA’s findings vis-à-vis the coverage yesterday of Fitch’s report.
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
 
 
 
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Australian home loan arrears are falling (not increasing): Christopher Joye

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Australian households continue to pay down their debt and increase their savings as house prices fall, the new RBA’s March 2012 Financial Stability Review (FSR) says.
“Real net worth per household is estimated to have fallen by 6.5% over 2011, to be 11.5% below its 2007 peak… This contrasts with the rapid trend expansion in this series over the decade to 2007 when average annual growth was 6.5%,” says the RBA.
<img src="/images/stories/absmarch282.gif">
According to the RBA, the recent weakness in household wealth has been driven by dwelling prices, “which were down about 4% on an average nationwide basis over the year to December 2011 with prices declined in most cities over the year”.
“Housing market conditions remain soft; preliminary data indicate that dwelling prices have fallen a little in early 2012. At the national level, the ratio of dwelling prices to income has fallen over the past year, and is below the average of the past decade, while rental yields have begun to pick up, assisted by stronger rental growth as well as lower prices.”
As with the previous September 2011 report, the latest report notes that the household saving rate remains well above the levels recorded in the 1990s and early to mid-2000s, with households “actively shifting their portfolios towards more conservative assets such as deposits”
“The aggregate debt-to-income ratio has drifted down over the past year, with demand for new debt remaining low and many households choosing to repay their existing debt more quickly than required.
“Solid income growth is also helping to support households’ debt-servicing capacity. In aggregate, households are managing their debt levels well, though mortgage arrears rates are still a little higher than a few years ago,” says the RBA.
<img src="/images/stories/absmarch281.gif">
According to the RBA, part of the motivation for this higher rate of saving “may have been a desire to bolster wealth, given the weakness in some asset markets in recent years”.
“Another sign of the more cautious approach of households is that they have been actively shifting the composition of their financial asset portfolio away from riskier assets like equities and towards deposits.
“From the beginning of 2008 to September 2011, there were net outflows from households’  directly held equities of nearly $50  billion, while holdings of deposits increased by around $210 billion ($94 billion more than in the previous corresponding period).
“The net outflows from equities have come on top of – and were probably in reaction to – declines in equity prices over recent years, especially given that the resulting capital losses coincided with more attractive rates of return available on deposits,” says the RBA.
The comments are in line with the previous FSR report issued in September 2011, where the RBA noted that the financial position of the household sector “continues to be shaped by a more cautious attitude to spending and borrowing, as evidenced by the considerable increase in the household saving rate”.
“After trending up since the mid 2000s, the household saving rate rose further over the past year, reaching 10.5% of disposable income in the June quarter. It is now at levels similar to those last seen in the mid-1980s,” the RBA said in the last report. 
The RBA has also released a chart showing the<a target="_blank" href="/news"> 15 regions with the highest rates of mortgage arrears.</a>
 
 
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Households continuing to deleverage as house prices fall: RBA 

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The RBA has released a chart showing the 15 regions with the highest rates of mortgage arrears. Of the 15, six are in Queensland, and six in New South Wales.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/absmarch283.gif"><img src="/images/stories/absmarch283thumb.gif"></a>
The RBA report also shows that <a href="https://www.propertyobserver.com.au/residential/households-continuing-to-deleverage-as-house-prices-fall-rba/2012032854046" target="_blank">households are deleveraging as housing prices fall</a>.
 
 
 
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Ipswich City, SW Sydney and Gold Coast lead list of 15 regions with highest mortgage arrears rates: RBA

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The sale of CFS Retail Property Trust’s 50% share of the Myer Centre Brisbane to unlisted property trust ISPT for $366 million helped boost first-quarter commercial sales to $1.4 billion nationally. 
According to CBRE analysis of all commercial transactions, sales in the traditionally quiet first quarter fell off sharply from the December 2011 quarter, but were still 18% above the first-quarter average recorded since the GFC.
The sale of the centre on a 6.5% yield was the largest retail transaction since Lend Lease’s Australian Prime Property Fund Retail (APPF Retail) acquired a 50% interest in Cairns Central for $261 million from Westfield Group in October 2011. 
The next largest deal was the Home Hub Hills Centre in Castle Hill in Sydney purchased by the La Salle Australia Core Plus Fund from developer Fenix Real Estate for $180 million. 
Retail was the most heavily traded sector comprising 51% of turnover, ahead of the office sector, which would normally be the most traded asset class, accounting for 37% of the total.
CBRE executive director of global research and consulting Kevin Stanley says this is a sign that investors are still keen to invest significantly into the retail sector, despite facing challenges of low consumer spending in some merchandise sectors and online retailing growing in popularity. 
Australian head of retail investments for Jones Lang LaSalle Simon Rooney, who brokered the Myer Centre Brisbane sale, says it demonstrated that “institutional investors view the current period as a window of opportunity to secure strategic exposure to the dominant, core regional shopping centre market that traditionally is rarely traded”.
Click to enlarge
<a href="/images/stories/cbremarch28.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/cbremarch28thumb.gif"></a>
Industrial property accounted for 12% of sales transactions. 
Foreign investors purchasing 43% of all assets sold by volume following a year when foreign investors purchased a record 37% share of all commercial properties sold above $20 million. 
Foreign investors active over the first three months of the year were all Asia-based, including La Salle Investment Management, Pramerica, Frasers Commercial Trust and Aviva Investors. 
Beyond foreign investors, local wholesale funds (26% of all purchases) and local private investors (20%) were also active. 
Geographically, Queensland accounted for 54% of all sales – a major deviation from trend – the state usually accounts for about 20%. 
“It appears investors are looking beyond the troubles of the past few years to the stronger economic growth which is now forecast to return to the sunshine state,” says Stanley. 
Stanley says concerns during the quarter centred on financial uncertainty coming from the Eurozone which was slowing investment decision making. 
“A slow start to the investment year is not uncommon in Australia, with January a holiday month, but the first quarter volume in both 2009 and 2011 was much lower than the $1.4 billion recorded in the first quarter of 2012,” says Stanley. 
“We think the prospects for rental growth in the office sector are still the brightest of all the asset classes and local and foreign investors continue to weigh solidly into the sector,” says CBRE regional director of institutional investment properties Rob Sewell.
Sewell says 2012 first-quarter sales activity had been impacted to an extent by an unusually early Easter break, with many vendors having delayed marketing assets until the second quarter. 
“We have a number of marketing programs ready to launch post Easter, including 6-10 O’Connell Street (a 25-storey B-grade office building in the Sydney CBD),” he says. 
Sewell says many institutions are showing a preference for assets with higher cash yields rather than lower yielding growth assets given ongoing wariness in relation to occupier demand. 
“Overall, we are seeing a lot more depth in the buyer demand, with more core plus institutional investors in the market, however the bulk of the funds are still seeking new, core assets,” he says
 
 
 
 
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Commercial sales get to $1.4 billion aggregate in March 2012 quarter: CBRE

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The most disconcerting trend to come out of the Stockland downgrade announcement was Matthew Quinn’s observation that banks were not offering financing to their buyers.
He said house-and-land buyers assessed as qualified for financing by Stockland were often getting knocked back by banks.
"A lot of these leads are still in the system, with conversion taking longer and finance approvals taking longer," Quinn said.
''Often this is due to buyers going through the finance process and getting knocked back even where we assessed them as being able to get finance,'' he said.
Perhaps the key reason for the bank hesitation came elsewhere in the briefing, when Quinn noted Stockland residential lot sales were being affected by competitors cutting their prices.
Quinn <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/stockland-downgrades-earnings-as-wet-weather-delays-illawarra-residential-projects/2012032754023">said the cuts were between by between $50,000 and $70,000</a>.
Quinn told analysts that while there was some price pressure in areas where direct local competitors had aggressively discounted prices, Stockland did not usually match price cuts and preferred to “ride out” the discounts.
But in a recent survey of 40 of the top 100 home builders, 72% of respondents said house-and-land buyers were having trouble obtaining finance.
Some 62% advised that it was getting worse or showing no change, according to the survey released by RBS Equities this month.
Buyers’ difficulties in obtaining finance were resulting in lost sales for 79% of the home builders that responded, and in delays for buying for 21%.
Consumer caution – which has been around since the GFC –  is now meeting resistance by way of financing challenges in the most affordable sector of housing.
It should, <a target="_blank" href="https://www.propertyobserver.com.au/residential/federal-government-must-decide-if-housing-industry-warrants-a-handout-in-may-budget/2012032053937">as I pointed out last week</a>, be of increasing concern to state and federal government policymakers.
Have we heard much from the opposition on the issue?
But surely the lengthening absence of data indicating any housing construction recovery – and accompanying credit growth – must be weighing on Federal Treasurer Wayne Swan during his May budget preparations.
Bendigo and Adelaide Bank chairman Robert Johanson says the housing market succeeds because of economic prosperity rather than government intervention.
So while we await the prosperity sentiment, and any government intervention, it seems home builders are going to have to offer more than free air-conditioners or $5,000 barbecues to secure sales.
Maybe the astronomical price of land has to come back to earth a bit.
 
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